Friday, November 3, 2017

Small Business Grant Winners All Have These 3 Things in Common

When applying for a small business grant, there is a great deal of competition. The larger the grant, the more the competition. To increase your odds of getting a grant, there are 3 important things that must be part of your application.3 things grant winners have in common

#1 Business Plan
Whether the grant provider asks for it or not, the most important part of a small business grant application is the business plan. A business plan should include the nature of the business, its mission and purpose, and a clear outline of how you will take to make your goals a reality. Be sure to spend a good time of time on the business plan and have others review before submitting it.#2 Credibility/Professionalism
If you are not a good writer, have someone write your business plan for you. Everything needs to point to your credibility as a business owner, so it needs to look professional. All facts stated in the business plan and application needs to be backed up with data and documentation. Credibility can be enhanced by contacting and quoting local political figures, accountants, or other experts to endorse your ideas and your company. The grantor will base their decision on how responsible you will be in using grant funds.

#3 Clear goals
Make sure you are stating your company goals and vision specifically and clearly. Examples might be "to encourage entrepreneurship in underrepresented demographics," or "stimulate business district revitalization." Then thoroughly explain how your company will use grant funds to accomplish this. Again, be specific and clear.

For more information on how to apply for a grant, visit www.lendingtree.com/business/grant/#applyingforgrants Lending Tree launched a $50,000 Small Business Grant Contest in November, 2016. Go to this site often to see if they will be repeating the contest in 2017-2018.